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Morgan Stanley leaders got performance-based stock awards Monday that have more than doubled in value since they were granted three years ago - the biggest payout yet under a bonus program adopted after the financial crisis.

UBS plans to scale back its wealth-management activities in Moscow that serve clients who deposit their funds offshore as the bank streamlines operations in some emerging markets, according to two people with knowledge of the decision.

The UK’s fund management industry is “ripe for investigation” because of “an alarming lack of transparency that surrounds [its] pay and practices”, the influential Institute of Directors said on Sunday.

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Morgan Stanley leaders got performance-based stock awards Monday that have more than doubled in value since they were granted three years ago - the biggest payout yet under a bonus program adopted after the financial crisis.